Tangent, Oregon Property Taxes
The median property tax rate in Tangent, OR is 0.69%, which is notably lower than both the national median of 0.99% and the Oregon state median of 0.86%. With the median home value in Tangent at $386,040, the typical annual property tax bill amounts to $2,686, just under the national median of $2,690. Property taxes in Tangent are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Tangent's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Tangent or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Tangent, Oregon Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.69%
Estimate Property Tax Bill
$2,664
Ownwell’s Tangent Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tangent with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tangent to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Tangent, Oregon
Property taxes in Tangent, Oregon, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tangent is 0.69%, which is lower than the U.S. national median of 0.99%. Local government entities within Tangent set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tangent estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Tangent's effective property tax rate to other counties in Oregon and the national median. For comparison, the 97389 zip code has the highest median property tax rate of 0.69%, while it also has the lowest median tax rate of 0.69%. Understanding how these cities compare with Tangent provides valuable insights into the varying tax landscape across Linn County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Tangent Tax Rate
0.69%
Average Linn County Tax Rate
0.82%
Average Oregon Tax Rate
0.86%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tangent, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97389 | 0.36% | 0.53% | 0.69% | 0.81% | 0.87% |
Source: Ownwell
Property Tax Assessment Values Across Tangent, Oregon
In Tangent, Oregon, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Linn County Assessor for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Tangent, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Tangent helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 97389 has the highest median tax bill at $2,686, while other zip codes share similar figures.
Average Tangent Assessed Value
$386,040
Average Linn County Assessed Value
$372,065
Average Oregon Assessed Value
$438,140
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Tangent, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97389 | $73,752 | $123,050 | $386,040 | $554,790 | $824,408 |
Source: Ownwell
Property Tax Bills Across Tangent, Oregon
In Tangent, property tax bills are calculated based on the assessed value of your home rather than its market value. The assessed value is determined by the county assessor and takes into account various factors such as the property's size, location, and condition. For homeowners in Tangent, the median home price is $386,040. Property tax rates in Tangent are influenced by local government budgets, school district funding, and public service requirements. Homeowners in Tangent can expect a wide range of property tax bills. For example, the tax bill at the 25th percentile is $807, while at the 75th percentile, it is $3,951. At the 90th percentile, the tax bill can reach up to $5,010. This variability significantly impacts homeowners, particularly those with higher-valued properties. Compared to the national median property tax rate of 0.99%, Tangent's property tax bills can vary widely, affecting household budgets and financial planning.
Average Tangent Tax Bill
$2,686
Average Linn County Tax Bill
$3,138
Average Oregon Tax Bill
$3,628
Average United States Tax Bill
$2,690
Property Tax Bills Across Tangent, Oregon
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 97389 | $424 | $807 | $2,686 | $3,951 | $5,010 |
Source: Ownwell